If we could find the money to bail out the banks why can’t we find more cash to support the NHS?
When Britain’s banks were near collapse in the 2008 banking crisis, we found a staggering £850billion to bail them out.
Yet faced with what many believe is another emergency – a growing strain on the NHS – could we not find more money to support it?
In this episode of the big money questions, economist Ann Pettifor offers her take on the conundrum.
She talks through where the money from the bailout came from – and where she thinks additional funds could come from were we to increase funding for the NHS.
She believes to answer the question we need to understand how money is created – and it’s not how many of us think.
Ann is director of Prime Economics and author of The Production of Money: How to break the power of the banks.